The utility industry is rapidly modernizing its infrastructure, adding more digitized equipment and connectivity through devices, plants and systems. This evolution towards an intelligent infrastructure represents a positive paradigm shift for the industry. Unfortunately, the security policies of many utility companies have not evolved along with them, which makes them incredibly vulnerable. In your new whitepaper, The 6 biggest cybersecurity risks facing the public services industry, ABI Research, a market advisory firm that provides strategic guidance on the most compelling transformative technologies, identifies the 6 most prevalent security weaknesses in the public services industry and offers best practices to utilities seeking to avoid threats and cybercriminals
Public services are investing heavily to modernize infrastructure. In fact, ABI Research projects that the industry will spend $ 14 billion per year between 2018 and 2023, a total of $ 84 billion during that period. While investments in digital infrastructure will remain very high over the next few years, investments to ensure that infrastructure will be left behind. Unfortunately, there is a growing gap between threats and spending that only 55% of total spending on security over the next 5 years will go towards ensuring smart infrastructure.
By 2023, the infrastructure of connected public services will have doubled in size, exposing public utilities to a large number of cybersecurity risks. These are the 6 most critical and pressing risks:
1. Protection of limits (unauthorized activity not detected in critical systems)
2. Physical access control (physical access not authorized maliciously)
3. Allocation of resources
4. Minimum functionality (increase of vectors for access of malicious part)
5. Identification and authentication (lack of responsibility and traceability)
6. Account management (unsafe password communications compromised)
As these threats continue to grow, it is imperative that companies within the service space use secure IT / OT solutions. The technical document also offers considerations and recommendations to support the IoT architecture and integrated security capabilities.
The supplementary report can be downloaded at http://bit.ly/2Jw91PJ. Please share the link!
About ABI Research
ABI Research provides strategic guidance for visionaries who need a market insight into the most attractive transformation technologies that shape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take early positions on these technologies, publishing innovative studies often years before other technology consulting firms. ABI analysts deliver their conclusions and recommendations in easy and fast absorption formats to ensure the right context. Our analysts strategically guide visionaries to take action now and inspire their businesses to get a broader picture. For more information on subscribing to the ABI Research Services, as well as Industrial and Customized Solutions, visionaries can contact us at +1,516,624,200 in the Americas, +44,203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.